DOMINICAN REPUBLIC. The 17th ASUTIL conference concluded today in Punta Cana with speakers exploring approaches to a moderating economic scenario in Latin America.
Carlos Melconian, Director of M&S Consultores and a regular at ASUTIL events, picked up where his address to the 2012 left off, painting a picture of a world balanced between less fragility in monetary fundamentals, but weaker economic activity.
Latin America, by contrast, presents a picture of more financial fragility, caused by overvalued currencies and inflationary pressures, alongside improved consumption, investment and employment. But the major economies of Brazil and Argentina are entering into a phase of uncertainty.
From a supplier perspective, Joe Arellano, Vice President of The Patrón Spirits, challenged the industry to creative ways to grow sales at duty free stores.
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Keynote speaker Arturo Valenzuela at the podium (left) and with ASUTIL Secretary-General José Luis Donagaray (below); ASUTIL Vice-President Cynthia Barreto (Bright Star Duty Free) summarises the conference proceedings (right) | |
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Improving the customer experience would help travel retailers claim share from Internet and department store sales, Arrellano contended, citing as examples Patrón’s ice bars, Bijoux Terner’s use of shopping carts, and London Supply’s Carnaval collaboration with Kit Kat at Duty Free Puerto Iguazú.
In the keynote address, Georgetown University’s Professor Arturo Valenzuela, a former US Assistant Secretary of State for Western Hemisphere Affairs, compared Latin America today with only 30 years ago, and saluted the progress made in democracy and wealth distribution.
Latin America is becoming a key destination for foreign direct investment, while home-grown multinationals (the so-called multi-latinas) are exploring overseas markets.
Then the spotlight turned to Victor Hugo Bonnet, Vice-President of London Supply, who received this year’s Lifetime Achievement Award.
A duty free pioneer, ASUTIL founder and one of the industry’s true gentlemen, Bonnet reflected on his 56 years of service in the industry in Argentina, and highlighted the social contribution that the London Supply Foundation has made in Puerto Iguazú.
Closing the official proceedings, ASUTIL Vice-President Cynthia Barreto noted key trends in the region – especially the growing expectations of duty free clients (including a new group of medium-income travellers), the law permitting border duty free stores in Brazil, airport privatisation, and the rise of low-cost airlines.
“We must prepare to move to a moderation of growth,” she concluded.
ASUTIL will host a social excursion to Altos de Chavón village and Isla Saona tomorrow.
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Carlos Melconian of M&S Consultores with ASUTIL’s María Pía Sarubbi |
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London Supply Vice-President Victor Hugo Bonnet receives the Vida de Triunfos Award from ASUTIL board member Enrique Urioste (Neutral), and is joined by José Luis Donagaray and ASUTIL President José Carlos Rosa (Dufry) |
